New funding method launched for Northern SMEs

A new funding method has been launched to give financial support to SMEs in the North through ‘spot factoring.’

The new cash flow scheme has been launched by the Interface Financial Group, and will give small and medium enterprises rapid access to cash.

The IFG will allow a ‘qualified’ company to use its unpaid invoices to accelerate cash flow by buying single invoices at a discount.

The service has been designed to help SMES who are struggling to source temporary funding by allowing them to use it on an ‘invoice-by-invoice’ basis with no long-term commitment.

IFG is now North America’s largest source of alternative funding for small businesses and is finding its services in much demand in the UK. The company operates on a franchise model and is now seeking to recruit franchisees in the North of England.

Company CEO David Banfield said: “With banks closing down credit lines and customers taking longer to pay, we offer small and medium-sized companies a much needed financial lifeline.

“They may need immediate access to cash to fulfil a larger than usual client order - this is the type of transaction we can help with.

“For the past two decades, Interface has consistently delivered a proven business model for their franchisees and can offer potential franchisees in the North of England a rewarding and potentially-lucrative entrepreneurial opportunity helping other businesses achieve their goals.

“We are now seeking individuals in the North of England with the business acumen and vision to be part of the growing IFG brand.”

An IFG franchisee can operate from a home-based office, with low overheads, previous financial experience is not necessary as full training, and back office and marketing support are provided by IFG’s UK headquarters and support team.

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